Short-Term Borrowings and Capital Lease Obligations

12 Months Ended

Dec. 31, 2011

Short Term Borrowings And Capital Lease Obligations [Abstract]

Short-Term Borrowings and Capital Lease Obligations

SHORT-TERM BORROWINGS AND CAPITAL LEASE OBLIGATIONS

December 31,	2011		2010
Commercial paper	$	390	$	—
Other loans-various currencies	15		128
Long-term debt payable within one year	410		4
Capital lease obligations	2		1
	$	817	$	133

The estimated fair value of the company's short-term borrowings, including interest rate financial instruments, based on quoted market prices for the same or similar issues, or on current rates offered to the company for debt of the same remaining maturities, was $830 and $130 at December 31, 2011 and 2010, respectively.

Unused bank credit lines were approximately $4,400 and $2,600 at December 31, 2011 and 2010, respectively. These lines are available to support short-term liquidity needs and general corporate purposes including letters of credit. Outstanding letters of credit were $354 and $424 at December 31, 2011 and 2010, respectively. These letters of credit support commitments made in the ordinary course of business.

The weighted-average interest rate on short-term borrowings outstanding at December 31, 2011 and 2010 was 2.6% and 5.4%, respectively. The decrease in the interest rate reflects the increase in commercial paper in 2011, which had lower interest rates compared to the borrowings in 2010.